A senior official with the Supreme Council of Iran’s Free Trade, Industrial and Special Economic Zones has called on the Export Development Bank of Iran to open branches in the free and special economic zones to facilitate exports. Presence of the EDBI in the zones will help exploit the natural synergy between the two export-oriented agencies, Naser Khormali, director for production, banking and insurance affairs of the council told eximnews.ir. The council has already signed an agreement with the Export Guarantee Fund of Iran to offer on-site services to exporters in the FTZs and SEZs. According to regulations, the minimum capital required for starting a bank in FTZs is €25 million and lenders can trade only in foreign currencies.
